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Haarmann & Reimer sale

This article was originally published in The Rose Sheet

Executive Summary

As many as seven or eight parties are bidding for Harrmann & Reimer fragrance & flavors division, Bayer says. German specialty chemicals group Degussa, Swiss fragrance supplier Givaudan and institutional investors are among those who have entered non-binding bids for the business, company reports. Bayer, which is selling H&R to focus on its chemicals business, is on track to complete sale by summer ( 1"The Rose Sheet" March 18, 2002, In Brief)...

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IFF bows out on H&R

Fragrance and flavors supplier is not likely to make formal bid for Bayer's Harrmann & Reimer fragrance and flavors division and does not "anticipate any acquisition activity in the short-term," CEO Richard Goldstein says during the company's annual meeting May 7. "We did look at H&R, and at the moment, my view is that we've got enough on our plate," exec notes. Givaudan and Dutch chemical supply company Degussa are among those interested in acquiring the business; sale is expected to be complete by summer (1"The Rose Sheet" April 22, 2002, In Brief)...

H&R sale anticipated by summer

"Binding offers" for Bayer's Haarman & Reimer fragrance and flavors business expected by May, Chairman of the Board of Management Manfred Schneider, PhD, says during Bayer's 1March 13 spring financial presentation. German firm expects to complete sale by summer, Schneider adds. H&R 2002 sales are projected at $763 mil. (E1= $.88), according to Bayer. Among companies expected to make a bid for H&R are Swiss fragrance supplier Givaudan and German specialty chemicals business Degussa. Bayer announced plans to divest division late last year as part of firm's restructuring effort (2"The Rose Sheet" Dec. 10, 2001, p. 6)...



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